Of the total external loan of Rs 2,170 crore (Rs 21.7 billion), KMRL expects roughly 50 per cent from AFD.

The project, which received final approval from the Centre in July last year, is estimated to cost Rs 5,180 crore (Rs 51.8 billion) and is scheduled to be completed by 2016.

Phase-I will have 22 stations and a system length of 26 km.

KMRL has also sought financial aid from the Japan International Co-operation Agency (Jica).

A 10-member Jica team had visited Kochi last November and their preliminary report is expected by this month-end.

The loans expected from AFD and Jica work out to about 42 per cent of the total project cost.

The state is expected to provide Rs 2,009 crore or Rs 20.09 billion (including land acquisition cost) and the Centre Rs 1,002 crore (Rs 10.02 billion).

Both central and state governments will extend financial support through capital investment.

The state government also approved the tripartite agreement for the construction of the metro, involving the Centre, Kerala government and KMRL.

Hudco loan

Meanwhile, Hudco will provide Rs 563 crore for land acquisition.

The estimate for land acquisition has now gone up to Rs 1,110 crore (Rs 11.1 billion) from the earlier Rs 672 crore (Rs 6.72 billion) with the increase in land area to be acquired on account of revisions in the alignment and parking space at stations.